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And more than the quality of its institutions, what…

“And more than the quality of its institutions, what distinguishes a developed country from a developing one is the degree of consensus in its politics, and thus its ability to take actions to secure a better future despite short-term pain.” quote by Raghuram G. Rajan
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““And more than the quality of its institutions, what distinguishes a developed country from a developing one is the degree of consensus in its politics, and thus its ability to take actions to secure a better future despite short-term pain.””

Raghuram G. Rajan

About This Quote

This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.

A nation's development depends more on political consensus than institutional quality, enabling decisive action despite short‑term costs.

In simple terms: Consensus drives progress better than institutions alone.

Key Takeaway

Build political agreement for long‑term policies.

Themes

politics development consensus policy governance

Mood

optimistic determined

Type

analytical inspirational

When to use this quote

  • legislative reform
  • climate policy
  • infrastructure projects
  • social welfare programs

Key Concepts

collective action social contract institutional economics

Questions to Reflect On

  • How can societies foster lasting political consensus?
  • What trade‑offs are acceptable for long‑term gains?
A Different Perspective

Consensus can be fragile and hard to achieve in polarized societies.

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